Hockey: US debt crisis unlikely to impact Australia

The US government shut down drags on amid frustrating congressional deadlock over Obamacare.

As the October 17 deadline approaches for lifting the US debt ceiling, the global economy is bracing itself for any shocks it will feel if an agreement is not reached.

Treasurer Joe Hockey has spent the day on capitol hill in Washington speaking with congressional leaders about the looming financial crisis, and doesn't believe the situation is a grave as is being reported.